Business Structure Calculator
Enter your income and business details to calculate your tax liability.
Total business or 1099 income before expenses
Deductible business expenses
Results
About S Corp Tax Calculator
Calculate S Corporation tax savings vs sole proprietorship or LLC taxation.
Understanding Business Structure
When calculating business taxes, it's important to understand:
- Self-employment tax (15.3%) covers Social Security and Medicare
- Income tax is calculated on net profit (income minus expenses)
- Quarterly estimated tax payments help avoid penalties
- Proper record-keeping is essential for deductions
Common Business Deductions
- Home office expenses (simplified or actual method)
- Vehicle and mileage (standard rate or actual expenses)
- Equipment and supplies
- Professional services and software subscriptions